Nordic co-operation within this area covers fisheries and aquaculture, agriculture, food, and forestry. These are sometimes jointly referred to as the Nordic bio-economy – a term which encompasses both economic and social development based on biological resources. The bio-economy is of considerable importance to all of the Nordic countries and has a crucial role to play in rural areas, and in the creation of prosperous and resilient societies which are home to competitive companies. Three goals will set direction for the 2025–2030 period: an enhanced green transition, greater competitiveness and bolstered resilience.